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Show IDCK- MARKET IS STRONG WITH PRICES ADVANCING i Interest Hastily Retires; Brokers Do More Business Than They Have Had for Weeks. 1BBOADAN WALL, atlonal News Service. 'ORIC Icc 19. Stocks closed sharp advances on a volume of at Indicated a hasty retirement aded short Interest, ces from Washington, as ex-dven ex-dven out by the Interna tlonal vice that members of the In-oramerco In-oramerco commission were fa-Isposcd fa-Isposcd toward an Increase In eight rates, was the main stlm-id stlm-id tho Improvement, dcrs were cabled to London folate fol-ate of Union Pacific and Steel, ct opened firm and maintained tone without onco wavering. x in tho afternoon a rush of 3era swept prices up another ftnd gave brokers moro busl-tJiey busl-tJiey had experienced In weeks, y was not confined to .stocks Hids developed a strong tone y sharp advances. American .(Ja convertibles, Rock Island ad'lng general 4s showed gains to 2 points, and Distillers 5s om 61 to 63. Wabash-PItts-Inal s were an exception, with decline on the proposed asunder as-under the new reorganization Houses Heavy Buyers, houses woro heavy buyers of king Steel, Union Pacific and This was attributed to short 6tcel jumped up nearly two th a scramblo on tho part of room traders to get In out of the wet. American Telephone continued Its advance, ad-vance, crossing 117J. Stop-loss orders kct" sho,'t'tJ,,C(l traders helped the mar-Selling mar-Selling of Canadian Pacific for foreign for-eign account ceased today and the stock recovered 3 points. Revival of Interest In iuTa developed, carrying all Issues up .H1 or morn with renewal of rumor that Canadian Pacific would obtain control con-trol of tho property. Inactive stocks became strong for the it . l. for wecks. Express stocks I displayed strength and tho coppor shares gained a point or more, although there Is not the slightest improvement In the metal trade. Bond Sale Successful. Tho success or tho Lehigh Valley bond sale justified tho three-point rise in the shares. Buying of Union Pacific was termed excellent. This Is hardly surprising. sur-prising. In view of the splendid showing made in the annual report. Tho stock is probably one of the cheapest Investment Issues on the market. British consols established a still lower low-er record and tho feeling of unrest continues con-tinues in JLondon and on tho continent. Arbitrage houses bought stocks. Av.,L,,a ,sal" ,n cai,h estimated at $9,000,000, It is expected that tomorrow's bank statement will bo highlv favorable. favor-able. Commission houses are suggesting the purchase of stocks on tho expectation that the currency bill will be out of tho way beforo tho Christmas holidavs, and a favorable decision on tho Increase In rreignt rales Is confidently looked for. , Once let tho shorts get thoroughly frightened fright-ened and a five-point advance mUrht easily occur before the bulls could make up their minds it was timo to buy stocks. |
